"The only thing we have to fear is fear itself." -FranklinDelano Roosevelt
The Great Depression of 1929 is remembered as the worst economic disaster in American History. Many people thought that this was just a phase and that the economy would rebound in no time. However, this was not the case.The stock market had collapsed, causing nationwide panic. The unemployment rate was higher than ever before. People who had heavily invested in stocks spiraled into poverty.This event devastated the nation’s economy and it looked as if there was no hope. President Franklin Delano Roosevelt decided it was time to fight back. He created the New Deal as a response to the Great Depression. This goals of this deal would be to stabilize the stock market, provide jobs for the unemployed, fight poverty, strengthen the banking system, establish an old-age insurance system, and aid farmers in producing more food and ensuring it got to the consumer market.
The following video goes into more detail on the subject of the New Deal.
Five FactsAboutThe Great Depression. 1. The Great Depression was caused by an extreme stock market crash in October 1929. 2. In 1933 drought and dust storms caused the already suffering farmers to abandon their farms and try for California. 3. Thousands of homeless family's camped out on the great lawn in New York city. 4. The Biggest hit song of 1932 was "Brother can you spare a dime" by Bing Crosby. 5. Zippers became widely used becausebuttons became much too expensive.
The Works Progress Administration was one of the largest in Roosevelt's plan, and spent more then $4 Billion dollars on building roads, streets, and highways.
The Hoover Dam was built at the peak of the Depression. The project employed 21,000 Americans during a five year construction span.
The New Deal helped America to get back on its feet after the devastating Stock Market Crash of 1929. Although the New Deal wasn't able to fully help the economy to bounce back, it was a great start and it showed the president's willingness to help his country.The New Deal caused many new acts to be established in order to get the economy back to its original state.
Year
Established Acts and Significant Events
1933
Emergency Banking Relief Act, Civilian Conservation Corps, Federal, Emergency Relief Act, Agricultural Adjustment
Act, Federal Deposit Insurance Corporation, Tennessee Valley Authority, Home Owners Refinancing Act, National Industrial Recovery Act
1934
Security Exchange Act, Securities and Exchange Commission created
1935
Works Progress Administration created; the U.S. Supreme Court declares the National Industrial Recovery Act unconstitutional, National Labor Relations Act and Social Security Act were passed
1936
Roosevelt wins second term as president
1937
FDR introduces the disastrous "court packing" scheme
1938
U.S. Congress passes the last major reform law of FDR's New Deal, the Fair Labor Standards Act
Roosevelt's New Deal
"The only thing we have to fear is fear itself."
-Franklin Delano Roosevelt
The Great Depression of 1929 is remembered as the worst economic disaster in American History. Many people thought that this was just a phase and that the economy would rebound in no time. However, this was not the case.The stock market had collapsed, causing nationwide panic. The unemployment rate was higher than ever before. People who had heavily invested in stocks spiraled into poverty.This event devastated the nation’s economy and it looked as if there was no hope. President Franklin Delano Roosevelt decided it was time to fight back. He created the New Deal as a response to the Great Depression. This goals of this deal would be to stabilize the stock market, provide jobs for the unemployed, fight poverty, strengthen the banking system, establish an old-age insurance system, and aid farmers in producing more food and ensuring it got to the consumer market.
The following video goes into more detail on the subject of the New Deal.
Five Facts About The Great Depression.
1. The Great Depression was caused by an extreme stock market crash in October 1929.
2. In 1933 drought and dust storms caused the already suffering farmers to abandon their farms and try for California.
3. Thousands of homeless family's camped out on the great lawn in New York city.
4. The Biggest hit song of 1932 was "Brother can you spare a dime" by Bing Crosby.
5. Zippers became widely used because buttons became much too expensive.
The Works Progress Administration was one of the largest in Roosevelt's plan, and spent more then $4 Billion dollars on building roads, streets, and highways.
The Hoover Dam was built at the peak of the Depression. The project employed 21,000 Americans during a five year construction span.The New Deal helped America to get back on its feet after the devastating Stock Market Crash of 1929. Although the New Deal wasn't able to fully help the economy to bounce back, it was a great start and it showed the president's willingness to help his country.The New Deal caused many new acts to be established in order to get the economy back to its original state.
Act, Federal Deposit Insurance Corporation, Tennessee Valley Authority, Home Owners Refinancing Act, National Industrial Recovery Act
For more information on the New Deal, please visit this database:http://americanhistory.abc-clio.com/Search/Display/254997?terms=fdr+new+deal